FTC filed suit in order to halt Microsoft and Activision’s acquisition agreement.
Microsoft’s proposed acquisition of Activision Blizzard continues to face setback after setback, most recently its latest setback on Tuesday morning.
Microsoft first made public in January 2022 their intention to purchase Activision Blizzard for an eye-watering $68.7 billion deal, however it still has not gone through as expected despite various market regulators around the globe approving of this merger agreement, however both US and UK markets regulators voicing reservations against its completion.
Reports that this deal would soon close came crashing down when concerns were voiced over Microsoft’s control over cloud technologies were voiced in the UK by market regulator CMA. Microsoft plans on appealing, however should that attempt fail it could set them back 10 years if another proposal needs to be submitted; as one way around these restrictions pulling Activision games from that region may occur.
However, according to The Verge’s reports, the US Federal Trade Commission is taking drastic action in response to Microsoft’s takeover bid of Activision Blizzard: it filed an official complaint saying both an injunction and temporary restraining order will be necessary due to Microsoft and Activision representing that they can consummate the acquisition at any moment – something the Verge was also reporting upon at this point in time.
FTC regulators are concerned that Microsoft will pursue its plans despite UK market objections to seal the deal before 18 July despite blockages, even as Activision titles continue to remain available there. No matter what transpires in coming weeks, don’t be shocked if there’s yet another hurdle as Microsoft pushes through with their deal; let us hope it all works out well for gamers everywhere!
